Forecast for the Week - levels for USD/JPY: seems the other uninteresting pair to trade for this week

Fundamentals for USD/JPY: neutral. "We expect JPY to be a relative outperformer over the near term for two reasons. First, weakness in China and the latest selloff in EM FX is likely to weigh on risk appetite more broadly. JPY tends to outperform in periods of risk aversion. Second, we continue to expect no further BoJ easing, which should also make the JPY an outperformer as other central banks carry out easing policies."

Technicals for USD/JPY: ranging with bullish. The pair is on bullish market condition with ranging within the following key levels: 115.84 resistance and 125.85 support. 100-SMA and 200-SMA indicators are estimating the bullish condition to be continuing but this pair may be ranging within key levels up to the end of next month for example. Intermediate support/resistance levels are also too far from the market price: 1.1613 support and 124.50. Thus, this ranging market expectation will be good for scalping or martingale trading systems but it may be some 'gap in trading' for the people using Trend Following Day Trading Systems to make money with this pair.